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Does anyone know which bank refinances one bed flat in Dubai International City?

Discussion in 'Dubai property' started by chand, Dec 17, 2007.

  1. chand

    chand New Member

    Does anyone know which bank refinances one bed flat in Dubai International City?
     
  2. georgihh

    georgihh New Member

    I am also looking for one.
    I don’t think this business exist in UAE
     
  3. chand

    chand New Member

    I heard there are some banks that do refinance.
    Dear Friend If your are in UAE please cheak about and share info. Someone told there are two banks that refinance, tameer and Amlak
     
  4. eyeC

    eyeC Senior Member

    hi everyone

    i heard the other day but im not 100% sure if it was tamweel

    refinance is possible in dubai

    but its low 70% of (original price) what you paid few years ago for the flat

    so i think the max. they will lend you about 160,000 AED against a studio flat in IC
     
  5. Lsab

    Lsab New Member

    refinance

    Does anyone know if any banks are offering refinance on studios in IC. Ours is paid for, no keys yet, and we'd really like to take out a mortgage on it in order to finance our next project. Appreciate any information.
    Many thanks
     
  6. eyeC

    eyeC Senior Member

    they started refinancing

    yes you can refinance your property in IC

    you can recieve upto 80% with around 8% rate also they still need to look at your salary transfer and liablities
     
  7. Lsab

    Lsab New Member

    refinancing

    Which of the banks are refinancing and do you have to be living in Duabi in order to do so? Just wondered about the salary thing.
    Thanks
     
  8. zombie

    zombie New Member

    Yes you can refinance, I had a long discussion with the exec at Tamweel, upto 70%, not sure but they will value the property for you at your cost ofcourse, but You need to be resident & employed in dubai having sufficient salary to pay the EMI required, which can be a max of 55% of you fixed salary as per Central Bank rules, if you have other loans(auto, personal, company etc.), it gets added to your 55% reducing the loan amount. They do consider to a very small extent the income you receive as rent. But no rent to own, though the rental returns seem to be sufficient.

    Have heard that Amlak also refinances property in IC1

    Hope this helps

    Vikram
     
  9. Lsab

    Lsab New Member


    Thank you for that Vikram,

    I was pretty sure that you had to be living in Dubai but unfortunately, we live in another GCC country, so that's not going to work for us.

    Thanks once again
    Linda
     
  10. FALKI

    FALKI New Member

    Refinancing Options

    Yeah My name is Fateh K Malik phone 00923008558836 . I own few one bedroom/studios in International City all paid for and taken possession. I need to refinance. please call or e mail. thanks Fateh Malik
     
  11. rampanicker

    rampanicker New Member

    refinanace

    dear,
    give me your email,i am also looking for refinanace

    regards
    Ram
     
  12. Lsab

    Lsab New Member

    I can't find realtymatching's original post on this subject. Can anyone provide the link. I checked on the members lists and it says he's never posted here! I'm interested in refinancing and would like to get in touch.
     
  13. sheray

    sheray New Member

    Hey Buddy

    They were finacing for you on orginal value or current rate of flat?
    Still not answered

    Regards :)


     
  14. Lsab

    Lsab New Member

    I've been told conflicting stories about refinance but from what I understand, you can't refinance if you're not a Dubai resident and you can't refinance on anything in IC.
     
  15. vivek117

    vivek117 New Member

    to buy

    Dear Malik Saab

    I am an end user and looking for an studio / 1 BHK for my family to live

    Plz suggest if you are interested to sell any of these appts

    Plz fee free to contact me on vivek117atyahoodotcom or +971559531723

    Waiting for your kind response

    Vivek


    Yeah My name is Fateh K Malik phone 00923008558836 . I own few one bedroom/studios in International City all paid for and taken possession. I need to refinance. please call or e mail. thanks Fateh Malik
     
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